The recent report of the National Administrative Department of Statistics (DANE) reveals that, in June 2023the price of food in Colombia experienced an average decrease.
Despite this downward trend, there are a number of products that increase their prices. Prepare your pocket or modify your market list if you want to buy any of these.
According to data provided by DANE, inflation in June 2023 was 0.30%being lower than the 0.51% registered in the same month of the previous year.
Although the country’s general inflation remains at relatively low levels, the food and alcoholic beverages sector capped a negative inflation reached -0.53%.
This implies that the price of food in Colombia is decreasing, which has a favorable impact on monthly inflation.
This graph shows the monthly variation of the Consumer Price Index (CPI) in June 2023.
(Keep reading: Find out why the increase in the minimum wage slows down companies and job creation).
Price of some foods in the month of June
Despite the general decrease in the price of food, there are certain products that have shown continuous growth. These were the foods with the highest and lowest price increases, according to the DANE report:
Biggest price decrease:
– Carrot: -8.40%
– Bananas: -6.74%
– Potatoes: -5.40%
Biggest price increase:
– Oranges: 12.86%
– Tree tomato: 11.21%
– Products derived from tubers, roots and bananas: 3.85%
Likewise, ‘Valora Analitik’ mentions among the list of foods that raised their prices to concentrates to prepare soft drinks, condiments and sauces, pastes and dressings. Among others, there are also fried food, powdered milk, ice cream and salt.
(You may be interested in: ‘The money is going to yield more’: director of the Dane due to the fall in the price of food).
The decrease in food prices is expected to continue in the coming months, according to the director of DANE, Beatriz Urdinola. However, there are still pressures that could affect this trend, such as energy costs and those related to transportation.
@urbefinanzas What is inflation and how does it affect us? 🤔 Surely this year everything more expensive makes sense: – When making the market 🥥🍓🥑 – When you travel ✈️ – When paying your credits that have an interest rate that is indexed to the CPI, as is the case with credits from @ICETEX_Oficial 💸💵 👀 It is important to understand what inflation is, why this occurs and what aspects of your life it affects. Do you feel that inflation has affected you? 🤔 #urbefinance #inflation #Colombia #learnwithurbe #icetex #trips #market ♬ original sound – Urbe Finanzas
SOFIA SALAMANCA GOMEZ
DIGITAL SCOPE WRITING
TIME
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